The first patent was not as much of a threat to Bitcoin companies as it was to legacy wire transfer and remittance companies. However, this new patent seems to target bitcoin exchanges, and especially bitcoin banks like Coinbase, Circle, and Xapo, because they hold onto customer's funds.

The second largest US bank, and eleventh largest in the world by assets, BoA was the first large bank to talk openly about bitcoin, in December 2013, while bitcoin's price was near its all-time high.

Having issued a 14-page “client note” to subscribed investing customers, Bank of America currency strategist David Woo stated that bitcoin had “clear potential for growth.”

“Bitcoin makes sense as a medium of exchange,” Woo bullishly stated, and “has the potential to become a major means of payment for e-commerce.” He went on to state that “it could even emerge as a serious competitor to traditional money transfer providers.” The note famously went on to place the estimated maximum market cap of bitcoin at US$15 Billion, or about $1,300 USD per bitcoin. Within a month, the price started plummeting.

The first patent was not as much of a threat to Bitcoin companies as it was to legacy wire transfer and remittance companies. However, this new patent seems to target bitcoin exchanges, and especially bitcoin banks like Coinbase, Circle, and Xapo, because they hold onto customer's funds.

The second largest US bank, and eleventh largest in the world by assets, BoA was the first large bank to talk openly about bitcoin, in December 2013, while bitcoin's price was near its all-time high.

Having issued a 14-page “client note” to subscribed investing customers, Bank of America currency strategist David Woo stated that bitcoin had “clear potential for growth.”

“Bitcoin makes sense as a medium of exchange,” Woo bullishly stated, and “has the potential to become a major means of payment for e-commerce.” He went on to state that “it could even emerge as a serious competitor to traditional money transfer providers.” The note famously went on to place the estimated maximum market cap of bitcoin at US$15 Billion, or about $1,300 USD per bitcoin. Within a month, the price started plummeting.

The first patent was not as much of a threat to Bitcoin companies as it was to legacy wire transfer and remittance companies. However, this new patent seems to target bitcoin exchanges, and especially bitcoin banks like Coinbase, Circle, and Xapo, because they hold onto customer's funds.

The second largest US bank, and eleventh largest in the world by assets, BoA was the first large bank to talk openly about bitcoin, in December 2013, while bitcoin's price was near its all-time high.

Having issued a 14-page “client note” to subscribed investing customers, Bank of America currency strategist David Woo stated that bitcoin had “clear potential for growth.”

“Bitcoin makes sense as a medium of exchange,” Woo bullishly stated, and “has the potential to become a major means of payment for e-commerce.” He went on to state that “it could even emerge as a serious competitor to traditional money transfer providers.” The note famously went on to place the estimated maximum market cap of bitcoin at US$15 Billion, or about $1,300 USD per bitcoin. Within a month, the price started plummeting.

The central bank of Barbados is actually considering holding a certain amount of bitcoin as part of its portfolio of foreign reserves. It recognizes the true potential of bitcoin as a reserve currency and respects its growth compared to other major currencies including the US dollar, pound sterling and the Japanese Yen.

“Within recent years, the proportion of digital transactions done using digital currencies has grown significantly. As a result, it is possible that digital currency could become a key currency for settling transactions,” said Winston Moore and Jeremy Stephen, two economists from the Central Bank of Barbados.

PrivatBank, one of Ukraine’s largest banks announced the development of a bitcoin-based merchant payment service solution that would allow online businesses to accept bitcoin with ease. The bank has already submitted an application to the Central Bank of Ukraine for regulatory confirmation and to ensure that their services align with Ukraine’s current financial policies.